Kahn Brothers Kahn Brothers Group
Kahn Brothers Group is a value investment firm founded in the tradition of Benjamin Graham and long associated with the Kahn family of investors. The firm is known for deep-value security analysis, patience, and a multi-decade orientation to intrinsic value. Its filings are followed by classic value investors seeking Graham-and-Dodd style managers still active in public markets.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Patterson-UTI
PTEN
|
+$5.58M |
| 2 |
BlackBerry
BB
|
+$2.97M |
| 3 |
BP
BP
|
+$442K |
| 4 |
Novartis
NVS
|
+$55.5K |
| 5 |
Bristol-Myers Squibb
BMY
|
+$42.3K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NTP
Nam Tai Property Inc.
NTP
|
+$3.97M |
| 2 |
New York Times
NYT
|
+$3.81M |
| 3 |
MBIA
MBI
|
+$3.43M |
| 4 |
Merck
MRK
|
+$3.29M |
| 5 |
HOLX
Hologic
HOLX
|
+$3.12M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 35.22% |
| 2 | Healthcare | 23.24% |
| 3 | Communication Services | 10.54% |
| 4 | Energy | 8.71% |
| 5 | Consumer Staples | 7.1% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Citigroup
C
$221B
| $64.4M | 11.1% |
1,190,462
-38,098
| -3% | -$2.02M |
|
|
2
Merck
MRK
$376B
| $59.8M | 10.31% |
1,103,342
-59,088
| -5% | -$3.29M |
|
3
Pfizer
PFE
$160B
| $58.7M | 10.11% |
1,984,911
-107,449
| -5% | -$3.08M |
|
|
4
New York Times
NYT
$10.6B
| $54.6M | 9.41% |
4,131,373
-296,023
| -7% | -$3.81M |
|
|
FLG
5
Flagstar Bank National Association
FLG
$5.59B
| $54.1M | 9.32% |
1,126,294
-48,644
| -4% | -$2.29M |
|
6
Seaboard Corp
SEB
$4.08B
| $41.2M | 7.1% |
9,811
-849
| -8% | -$2.86M |
|
|
7
BP
BP
$115B
| $33.1M | 5.7% |
1,045,531
+13,145
| +1% | +$442K |
|
8
Old Republic International
ORI
$10B
| $28.7M | 4.95% |
1,963,215
-155,680
| -7% | -$2.27M |
|
|
9
BlackBerry
BB
$4.71B
| $20.3M | 3.49% |
1,846,010
+289,960
| +19% | +$2.97M |
|
|
10
MBIA
MBI
$250M
| $18.9M | 3.26% |
1,981,842
-355,597
| -15% | -$3.43M |
|
|
STL
11
DELISTED
Sterling Bancorp
STL
| $18.5M | 3.18% |
1,283,584
-104,908
| -8% | -$1.42M |
|
12
Navient
NAVI
$886M
| $18.4M | 3.16% |
849,483
-50,102
| -6% | -$1M |
|
|
VOXX
13
DELISTED
VOXX International Corporation Class A
VOXX
| $14.9M | 2.57% |
1,703,259
-235,477
| -12% | -$1.97M |
|
|
14
Patterson-UTI
PTEN
$4.71B
| $14.8M | 2.55% |
890,609
+264,355
| +42% | +$5.58M |
|
|
NTP
15
DELISTED
Nam Tai Property Inc.
NTP
| $14M | 2.41% |
2,943,022
-787,934
| -21% | -$3.97M |
|
|
HOLX
16
DELISTED
Hologic
HOLX
| $11.8M | 2.04% |
1,420,442
-120,717
| -8% | -$3.12M |
|
|
STRP
17
DELISTED
Straight Path Communications Inc.
STRP
| $5.05M | 0.87% |
266,604
-64,898
| -20% | -$1.23M |
|
|
18
Novartis
NVS
$302B
| $2.87M | 0.49% |
34,560
+669
| +2% | +$55.5K |
|
|
19
Bristol-Myers Squibb
BMY
$137B
| $1.68M | 0.29% |
28,400
+750
| +3% | +$42.3K |
|
20
ExxonMobil
XOM
$679B
| $1.63M | 0.28% |
17,684
| – | – |
|
21
Comcast
CMCSA
$95.3B
| $1.48M | 0.25% |
50,994
-1,876
| -4% | -$51.4K |
|
22
IBM
IBM
$222B
| $1.15M | 0.2% |
7,487
-105
| -1% | -$16.7K |
|
|
FNFG
23
DELISTED
FIRST NIAGARA FINANCIAL GROUP INC
FNFG
| $1.13M | 0.19% |
134,045
-4,000
| -3% | -$32.2K |
|
24
Bank of America
BAC
$431B
| $914K | 0.16% |
51,097
-3,652
| -7% | -$62.5K |
|
25
Chevron
CVX
$403B
| $672K | 0.12% |
5,988
-400
| -6% | -$45.4K |
|
Similar funds
Kahn Brothers's Q4 2014 Portfolio in Review
As of Q4 2014, Kahn Brothers held 44 positions worth $580M, down 5.6% from $615M the previous quarter. Its ten largest holdings account for 75% of the portfolio.
Kahn Brothers withdrew a net $33.4M in Q4 2014, reducing 29 holdings. Its largest reduction was Nam Tai Property Inc., cutting an estimated $3.97M.
By sector, the portfolio is most concentrated in Financials at 35% of assets, up from 34% a quarter earlier, followed by Healthcare and Communication Services.
Against the trend, Kahn Brothers added an estimated $5.58M to Patterson-UTI.
- Kahn Brothers added most to Patterson-UTI in Q4 2014, an estimated $5.58M increase.
- Kahn Brothers's biggest Q4 2014 reduction was Nam Tai Property Inc., cutting an estimated $3.97M.
- Kahn Brothers's ten largest holdings make up 75% of its $580M portfolio in Q4 2014.
- Kahn Brothers opened 0 new positions and closed 0 in Q4 2014.
- Kahn Brothers's portfolio value fell 5.6% quarter-over-quarter to $580M.
Based on Kahn Brothers Group's 13F filing for Q4 2014, filed 3 Feb 2015.